Bank of New York Mellon Corp Raises Stock Holdings in Nordson Co. (NASDAQ:NDSN)

Bank of New York Mellon Corp increased its holdings in Nordson Co. (NASDAQ:NDSN - Free Report) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 510,239 shares of the industrial products company's stock after purchasing an additional 28,967 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.89% of Nordson worth $106,762,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp grew its position in shares of Nordson by 7.2% in the 3rd quarter. State Street Corp now owns 2,638,375 shares of the industrial products company's stock valued at $692,916,000 after buying an additional 177,282 shares during the last quarter. Natixis Advisors LLC lifted its stake in shares of Nordson by 71.0% in the third quarter. Natixis Advisors LLC now owns 157,582 shares of the industrial products company's stock worth $41,386,000 after acquiring an additional 65,436 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Nordson by 23.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 321,742 shares of the industrial products company's stock valued at $84,499,000 after acquiring an additional 61,430 shares during the last quarter. JPMorgan Chase & Co. increased its position in Nordson by 10.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 514,557 shares of the industrial products company's stock valued at $135,138,000 after purchasing an additional 48,720 shares during the period. Finally, Benjamin Edwards Inc. raised its holdings in Nordson by 3,861.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 27,530 shares of the industrial products company's stock worth $7,231,000 after purchasing an additional 26,835 shares during the last quarter. 72.11% of the stock is currently owned by institutional investors and hedge funds.

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Nordson Stock Up 1.9 %

Shares of NASDAQ:NDSN traded up $3.89 during trading on Wednesday, reaching $210.44. 322,796 shares of the stock were exchanged, compared to its average volume of 354,464. The stock has a fifty day moving average of $213.27 and a two-hundred day moving average of $237.61. Nordson Co. has a 1-year low of $196.83 and a 1-year high of $279.38. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.53 and a quick ratio of 1.51. The firm has a market cap of $11.98 billion, a price-to-earnings ratio of 26.77, a price-to-earnings-growth ratio of 1.65 and a beta of 0.92.

Nordson (NASDAQ:NDSN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.08 by ($0.02). Nordson had a net margin of 16.93% and a return on equity of 19.28%. The business had revenue of $615.42 million during the quarter, compared to the consensus estimate of $639.40 million. Research analysts anticipate that Nordson Co. will post 10.2 earnings per share for the current fiscal year.

Nordson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Thursday, January 2nd. Nordson's dividend payout ratio (DPR) is presently 39.69%.

Insider Activity

In other Nordson news, EVP Stephen Lovass sold 1,299 shares of Nordson stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $206.79, for a total value of $268,620.21. Following the sale, the executive vice president now owns 7,347 shares of the company's stock, valued at approximately $1,519,286.13. The trade was a 15.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. DA Davidson decreased their price objective on shares of Nordson from $295.00 to $285.00 and set a "buy" rating for the company in a research report on Friday, December 13th. Seaport Res Ptn upgraded Nordson from a "hold" rating to a "strong-buy" rating in a report on Tuesday, December 17th. KeyCorp raised Nordson from a "sector weight" rating to an "overweight" rating and set a $260.00 price objective on the stock in a research note on Tuesday. Baird R W cut Nordson from a "strong-buy" rating to a "hold" rating in a research note on Friday, December 13th. Finally, Loop Capital raised Nordson from a "hold" rating to a "buy" rating and boosted their price target for the company from $255.00 to $280.00 in a research note on Wednesday, January 22nd. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $256.20.

Nordson Profile

Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. It operates through three segments: Industrial Precision Solutions; Medical and Fluid Solutions; and Advanced Technology Solutions.